Clarivate (NYSE:CLVT) Trading 6.8% Higher – Here’s Why

Clarivate Plc (NYSE:CLVT) traded up 6.8% during trading on Wednesday . The company traded as high as $5.21 and last traded at $5.20. 3,421,125 shares traded hands during trading, a decline of 23% from the average session volume of 4,464,078 shares. The stock had previously closed at $4.87.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. William Blair downgraded shares of Clarivate from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 6th. Barclays cut their target price on shares of Clarivate from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, November 7th. Finally, Royal Bank of Canada cut their target price on shares of Clarivate from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.25.

Clarivate Price Performance

The stock’s 50-day simple moving average is $6.21 and its two-hundred day simple moving average is $6.14. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -2.58 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.84.

Clarivate (NYSE:CLVT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. Clarivate had a positive return on equity of 9.69% and a negative net margin of 50.00%. The company had revenue of $622.20 million for the quarter, compared to analyst estimates of $640.81 million. During the same quarter last year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Clarivate Plc will post 0.63 earnings per share for the current year.

Insider Buying and Selling at Clarivate

In related news, insider Bar Veinstein sold 120,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $7.00, for a total transaction of $840,000.00. Following the sale, the insider now directly owns 976,583 shares in the company, valued at approximately $6,836,081. This represents a 10.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Saurabh Saha sold 17,646 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $6.75, for a total transaction of $119,110.50. Following the completion of the transaction, the director now owns 23,741 shares in the company, valued at $160,251.75. This represents a 42.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,646 shares of company stock valued at $1,379,111 over the last 90 days. 22.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Clarivate

Large investors have recently modified their holdings of the company. Baupost Group LLC MA lifted its holdings in shares of Clarivate by 27.2% during the second quarter. Baupost Group LLC MA now owns 38,929,635 shares of the company’s stock worth $221,510,000 after purchasing an additional 8,331,233 shares during the period. Impactive Capital LP lifted its holdings in shares of Clarivate by 0.3% during the first quarter. Impactive Capital LP now owns 37,887,185 shares of the company’s stock worth $281,502,000 after purchasing an additional 109,247 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Clarivate by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,752,994 shares of the company’s stock worth $83,945,000 after purchasing an additional 2,409,470 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of Clarivate by 31.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 9,726,504 shares of the company’s stock worth $55,344,000 after purchasing an additional 2,332,388 shares during the period. Finally, Raymond James & Associates lifted its holdings in Clarivate by 19.0% in the second quarter. Raymond James & Associates now owns 7,244,790 shares of the company’s stock valued at $41,223,000 after acquiring an additional 1,157,976 shares during the period. 85.72% of the stock is owned by institutional investors and hedge funds.

About Clarivate

Clarivate Plc operates as an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. It operates through three segments: Academia & Government, Life Sciences & Healthcare, and Intellectual Property. The company offers Web of Science and InCites, that analyzes and explores the academic research landscape and manages research information; ProQuest One and Ebook Central that provides comprehensive content collections to institutions in a cost-effective manner; and Alma and Polaris, that manages academic resources and services, connect users, and support research publications.